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wlrASSET FINANCE SPRING 2021world leasingreviewAUTO FINANCE D I G I TA L I S AT I O Nwww.world-leasing-yearbook.com LEASING LEGAL SOFTWAREUS leasing confidencereaches three year highConfidence in the US equipmentleasing & finance market reached67.7 in March 2021, an increase fromthe February index of 64.4, and thehighest level since April 2018.These are the finding from theEquipment Leasing & FinanceFoundation according to its March2021 Monthly Confidence Index forthe US Equipment Finance Industry.The index reports a qualitativeassessment of both the prevailingbusiness conditions and expectationsfor the future as reported bykey executives from the 900bnequipment finance sector.When asked to assess their businessconditions over the next four months,50% of executives responding saidthey believe business conditions willimprove over the next four months.Some 42.9% of the surveyrespondents believe demand forleases and loans to fund capitalexpenditures will increase over thenext four months and 53.6% believedemand will “remain the same” duringthe same four-month time period.“We are relatively positive ondomestic and global economicactivity for this year, and likelynext”, said David Drury, Senior VicePresident and Head of EquipmentFinance, Fifth Third Bank.Following the acquisition of GECAS, AerCap will have a massive portfolio of over 2,000 owned and managed aircraft.AerCap to acquireGE Capital Aviation ServicesAerCap Holdings NV, the leadingglobal aircraft leasing company, hasannounced that it has entered intoa definitive agreement with GeneralElectric under which AerCap willacquire 100% of GE Capital AviationServices (GECAS), a GE business.The combined company will be anindustry leader across all areas ofaviation leasing, with over 2,000 ownedand managed aircraft, over 900 ownedand managed engines, over 300owned helicopters and approximately300 customers around the world.Aengus Kelly, Chief Executive Officerof AerCap, said, “We are excited aboutthis opportunity to bring together twoleaders in aviation leasing. AerCap andGECAS both have industry-leadingteams, attractive portfolios, diversifiedcustomer bases and order books ofthe most in-demand new technologyassets. This combination will enhanceour ability to provide innovative andattractive solutions for our customersand will strengthen our cash flows,earnings and profitability”.“GECAS is a highly attractive businessand this transaction continues ourstrong track record of capital allocation.As the recovery in air travel gatherspace, this transaction represents aunique opportunity that we believewill create long-term value for ourinvestors,” added Kelly. “This businesscombination will also strengthen ourlongstanding partnership with GEAviation, which we look forward toworking with closely in the future.”
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wlr world leasing reviewTransaction highlightsUnder the terms of the agreement,which has been unanimously approvedby the boards of directors of AerCapand GE, GE will receive 111.5 millionnewly issued AerCap shares, 24bn ofcash and 1bn of AerCap notes and/or cash.Upon completion of the transaction,GE is expected to own approximately46% of the combined company andwill be entitled to nominate twodirectors to the AerCap Board ofDirectors.Citi and Goldman Sachs have providedAerCap with 24bn of committedfinancing for the transaction.GE Chairman and CEO, H. LawrenceCulp, Jr., said, “AerCap is theright partner for our exceptionalGECAS team. Combining thesecomplementary franchises will deliverstrategic and financial value for bothcompanies and their stakeholders.Together we are creating an industryleading aviation lessor with expertise,scale and reach to better servecustomers around the world, whileGE gains both cash and upside in thestronger combined company as theaviation industry recovers.”AerCap expects to maintain its currentinvestment grade credit ratings withS&P, Moody’s and Fitch. The transactionwill enhance many of AerCap’s keycredit metrics, as the combinedcompany will have stronger cash flowsand a more diversified revenue andcustomer base.After the deal closes, GE intends touse the transaction proceeds andits existing cash sources to reducedebt by approximately 30bn, for anexpected total reduction of more than 70bn since the end of 2018.Citi and Goldman Sachs have provided AerCap with 24bn of committed financing for the transaction.The adjusted debt-to-equity ratio ofthe combined company is expected tobe 3.0x at closing of the transaction.AerCap will maintain its target adjusteddebt-to-equity ratio of 2.7x and expectsto return to this level rapidly.conditions. The transaction is expectedto close in the fourth quarter of 2021.Strategic benefitsThe transaction provides the followingkey strategic benefits: Leading aircraft leasing platform withexpanded customer breadth andreach, given AerCap and GECAS’scomplementary customer bases withlimited overlap. Narrow-body aircraft will representapproximately 60% of the combinedaircraft fleet. New technology aircraft will representapproximately 56% of the combinedin-service fleet, expected to grow toapproximately 75% in 2024. Attractive order book of 493 newtechnology aircraft, more than 90% ofwhich are narrow-bodies. Premier engine leasing business addsrevenue diversification and greaterability to provide innovative solutionsto our airline customers.Citi and Morgan Stanley acted asfinancial advisors to AerCap. Cravath,Swaine & Moore LLP, NautaDutilh NVand McCann Fitzgerald acted as legaladvisors to AerCap.Closing conditions and advisorsThe transaction is subject to approvalby AerCap shareholders, receipt ofnecessary regulatory approvals andsatisfaction of other customary closingThe combined company will retain thename AerCap, and GECAS will becomea business of AerCap.AerCap is a global leader in aircraftleasing. AerCap serves approximately200 customers in approximately 80countries. AerCap is listed on theNew York Stock Exchange and has itsheadquarters in Dublin with officesin Shannon, Los Angeles, Singapore,Amsterdam, Shanghai, Abu Dhabi,Seattle and Toulouse.GE Capital Aviation Services (GECAS)is a world-leading aviation lessorand financier. GECAS offers a broadarray of financing products andservices including operating leases,purchase/leasebacks, capital markets,and airframe parts management.GECAS owns, services or has on orderapproximately 1,700 aircraft. GECASserves over 200 customers in 75countries from a network of 15 officesaround the world.3
wlr world leasing reviewUK asset financemarket shows growthNew figures released by the Finance &Leasing Association (FLA) in the UK showthat total asset finance new business,primarily leasing and hire purchase, grewby 1% in February 2021 compared withthe same month in 2020.The plant and machinery finance andcommercial vehicle finance sectorsreported new business up in February by14% and 8% respectively, compared withthe same month in 2020. By contrast,the IT equipment finance and businessequipment finance sectors reportedfalls in new business of 20% and 24%respectively, over the same period.Commenting on the figures, GeraldineKilkelly, Director of Research andChief Economist at the FLA, said: “InFebruary, the UK asset finance marketreported new business growth forthe first time in more than a year. FLAmembers reported growth in newfinance for a range of assets includingagricultural equipment, manufacturingequipment and printing equipment.”Government to extend the superdeduction allowance for expenditureon qualifying plant and machineryto include leasing. The asset financeindustry has a proven track recordin supporting businesses to investin a wide range of machinery andequipment, with as much as 40% ofthis investment in the UK funded byFLA members”, said Kilkelly.“While the FLA welcomes themeasures announced in the Budgetto ensure that a strong pick-up inbusiness investment is part of theUK economic recovery, we urge theElsewhere, the FLA reports a fallin new business volumes in theconsumer car finance market of 27%in February 2021, compared with thesame month in 2020.US equipment and softwareinvestment forecast to grow 11.2%Equipment and software investmentgrowth is expected to be robust inthe US in 2021 as businesses invest toadapt to a post-pandemic normal.Annual equipment and softwareinvestment growth of 11.2% isforecast for 2021 according to theQ2 update to the 2021 EquipmentLeasing & Finance US EconomicOutlook released by the EquipmentLeasing & Finance Foundation. AnnualUS GDP growth for 2021 is forecastat 5.7%,The equipment and softwareinvestment growth benefited froma 21% surge in Q4 2020, whichprovided a strong jumping-off pointfor 2021.The US economy expandedat 4.3% (revised) annualised rate inQ4 2020 as the nation struggled withsurging COVID-19 cases and deaths.4The US manufacturing sectorcontinued to improve in early 2021due to strong demand for bothconsumer and business goods.Underlying demand remains strong,although supply chain backlogsshould be monitored, and rising inputprices could become an increasinglysignificant concern in the monthsahead.Headwinds to keep an eye on, says theFoundation, include the potential forhigher inflation, the ongoing labourmarket recovery, and the emergenceof new virus strains that could reducethe effectiveness of existing vaccines.“Finally, we are beginning to seethe light at the end of the tunnel”,said Scott Thacker, FoundationChair and Chief Executive Officer ofIvory Consulting Corporation. “Thewidespread availability of vaccinationsoffers hope that economic activity willsoon return to pre-pandemic levels, orbeyond. The robust stimulus efforts,along with trillions of dollars in pent-updemand, point to a wave of spendingthis summer and fall. All indicatorspoint to 2021 being a banner year forequipment and software investment,and the equipment finance industry ispoised to benefit from that expectedeconomic activity.”The Foundation produces theEquipment Leasing & FinanceUS Economic Outlook report inpartnership with economic andpublic policy consulting firmKeybridge Research. The annualeconomic forecast provides theUS macroeconomic outlook, creditmarket conditions, and key economicindicators.
wlr world leasing reviewIDS acquiresWhite Clarke GroupIDS has agreed to acquire White ClarkeGroup, the leading provider of retail,fleet, wholesale and asset financesolutions for the automotive andequipment finance markets.The two companies will combine tocreate a multi-asset class secured financetechnology powerhouse supportingbanks, independents, OEM captives andspecialty finance firms globally.Together, the combined companywill serve more than 300 customersacross North America, Europe and AsiaPacific and will be co-headquartered inMinneapolis, MN and Milton Keynes, UK.an unmatched range of secured financesolutions and the ability to supportcustomers globally”, said Hamilton.IDS and White Clarke Group willtogether provide a comprehensiveportfolio of products across multiplemarket segments including: Automotive finance (retail, fleet, andwholesale). CALMS is a full lifecyclesystem including point-of-sale, loanorigination, loan servicing, andfloorplanning capabilities servingeight of the top 10 auto manufacturersrepresenting 25 brands.Strategically the acquisition makes senseas IDS has a strong dominance with USbased equipment asset finance sectorsand this will be complemented by WhiteClarke Group’s traditional strength inEuropean markets and in auto financemarkets globally.“Global business has entered a newlong-term investment cycle driven bythe rapid evolution of technology,” saidDavid Hamilton, CEO of IDS. “Smartfactories, connected-assets (IoT), greenenergy, and many other technologyinnovations will bring about excitingnew economic growth opportunitieswhich will require access to capitalfrom secured finance firms. With acomprehensive and flexible technologyfoundation, these finance providerswill be able to support new fundingmodels accelerating the move to digital,servitization, and mobility”.“Supporting this fast-changing marketneed is the motivation for bringing ourtwo great companies together creatingnot ownership. This has created anopportunity for financing firms to tap intoemerging technologies including digitaland AI to create new business modelslike subscription and car sharing."White Clarke Group was establishedin 1992 by Ed White and Dara Clarkeand has built a strong track record inproviding specialised technology andsoftware solutions to the automotive andasset finance markets. The company’sCALMS product range supports thelifecycle of auto and asset finance,leasing, and loan origination from pointof-sale through credit approval, contractmanagement and customer support.IDS is acquiring White Clarke Groupfrom Five Arrows Principal Investments,who originally invested in the businessin 2016 and will remain a shareholder inthe combined company. The transactionis expected to close before the end ofQ2 2021. The financial terms of the dealhave not been disclosed. E quipment asset finance. An endto-end platform for leasing and loanorigination and portfolio managementwith more than 350bn of net assetvalue running on the solution. Working capital. (Asset-based lendingand factoring). A comprehensivesolution providing the ability tomanage flexible working capitalfinance offerings with real-time creditmonitoring and availability.IDS offers a suite of secured financetechnologies to help banks, specialtyfinance firms and captive financeorganisations drive operational efficiencyand growth. IDS’ software solutions arebuilt on IDScloud, a software-as-a-service(SaaS) platform that offers best-in-classsimplicity, scalability and affordability.IDS serves a global customer base fromoffices in the US, the UK and Australia.The company’s headquarters are locatedin Minneapolis, Minnesota, USA.“Our industry is being disrupted bya global shift in consumption,” saidBrendan Gleeson, Group CEO ofWhite Clarke Group. “Consumers andbusinesses want utility and outcomes,IDS, has also recently completed theacquisition of William Stucky andAssociates, the leading provider of ABLand factoring software with over 120customers.5
wlr world leasing reviewEPC alignsglobal ITAD marketsEPC, Inc, a subsidiary of CSI Leasing,Inc, and one of the world’s largest ITasset disposition (ITAD) providers, hasrecently expanded operations in SouthAmerica and rebranded sister facilitiesin Europe to enhance and align itsglobal capabilities and focus.EPC’s newest facility, EPC Peru, SAC,will service companies throughoutSouth America. The facility spans4,000 square feet and will initiallyemploy five IT lifecycle specialists,with plans to grow as volumeincreases.Headquartered outside St. Louis,Missouri, US, EPC has 17 ITADprocessing facilities worldwide,along with a network of strategicvendor alliances. EPC services nearly70 countries, making its globalgeographic footprint one of the largestin the ITAD industry.RebrandingTo reflect the company’s evolution andcommitment to a uniform, global ITADbusiness, CSI Leasing’s remarketingand recycling subsidiaries in Europehave rebranded.CSI Lifecycle Services UK in Sheffield,England and CSI Lifecycle Europe inBratislava, Slovakia are now known asEPC Global Solutions.“EPC, Inc. has been a global leaderin the ITAD industry for decades andis committed to proper data securityand protecting the environment.The facilities in Europe have alwaysworked closely with EPC in the US.Our principles and standards arewell-aligned and I am excited toextend the EPC brand across thecontinent,” said Damian Rushworth,manager of EPC Global Solutionsin Europe.Worldwide, EPC processed nearlyone million serialised assets in 2020.Since the beginning of the Covid-19pandemic, EPC has deployed nearly350,000 refurbished work from homeassets to help curb the spread of thevirus.EPC employs 485 ITAD professionalsacross seven countries. The total facilityfootprint tops 608,000 square feet.EPC facilitates secure IT disposalsolutions for companies to helpthem achieve sustainability goalsand contribute to the circulareconomy. Their certified datasecurity, remarketing and recyclingprocesses follow all local, national andinternational laws and adhere to thestrictest policies.EPC is a subsidiary of CSI Leasing, Inc.and integral to its global network.In addition to processing retiredIT assets for their client portfolio,EPC processes all lease returns forparent company CSI Leasing and itsinternational subsidiaries.EPC offers a comprehensive serviceoffering for end-of-use IT devices andis well-positioned to help multi-nationalcompanies achieve both their securityand sustainability goals.“We have been increasing our globalfootprint in conjunction with customerdemand,” said Dan Fuller, President ofEPC. “Organisations around the worldunderstand the need for proper ITAD.Data security and sustainability are notdefined by borders, and neither areEPC’s services.”6EPC Inc has opened a new IT asset disposition facility in Peru to service companies in South America.
wlr world leasing reviewDeutsche Leasing expectsbusiness upturn in 2021Deutsche Leasing has reported apositive start to the first half of the newfinancial year 2020/21, and predicts acontinuing upturn through 2021.“We expect the business climateto improve in the second half of2021. With our alternative financingproducts, we intend to actively supportthe SME sector during its restart”, saidKai Ostermann, Chief Executive Officerof Deutsche Leasing.In a market environment shaped by thecoronavirus pandemic, in the financialyear 2019/20 the Deutsche LeasingGroup’s volume of new business fell toEuro 9.2bn, compared to Euro 10.3bnthe previous year.Following a 12.5% decline in plant andequipment expenditures throughoutGermany, the new business trend for2019/20 was better than expected.“We have achieved a satisfactoryperformance in an extraordinaryeconomic environment in which thereal economy suffered a pronouncedslump,” said Kai Ostermann.Trend for subsidiaries and investmentsWith a new business volume of Euro2.3bn, DAL Deutsche Anlagen-Leasingachieved a result which was only 5%lower than the previous year’s recordlevel. A number of transport projects inthe rail passenger transport and localpublic transport sectors provided aparticularly significant contribution.Deutsche Factoring Bank (DFB)achieved factoring turnover of Euro16.9bn in 2020 (as at December 31,2020), a decline of 6.9% year-on-year.Factoring turnover among existingcustomers varied, but declined inoverall terms. This trend contrastedwith significant growth through newfactoring customers. 27.4% of turnoverwas generated in the areas of exportand import factoring.Outlook for the financial year 2020/21Deutsche Leasing is continuingto invest in the modernisation ofits IT and in the digitalisation ofproducts, services and interfaces withcustomers and partners in trade andindustry.S-Kreditpartner GmbH, DeutscheLeasing’s joint venture withLandesbank Berlin/Berliner Sparkasse,achieved growth of 2% year-on-year,with a Euro 8.5bn volume of loans. Thenumber of fully fledged partnershipswith savings banks continued to grow.More than 50% of the savings banksrely on this car and consumer loansspecialist.In its vendor business, it isdeveloping efficient and integratedplatforms by way of a digitalframework for business transactions.Foundations laid for future growth“We have further strengthened ourbusiness fundamentals and shored upour market position,” said Ostermann.Deutsche Leasing expanded its exportcredit agency (ECA)-backed businessin the past financial year through itsinvestment in AKA AusfuhrkreditGesellschaft mbH (AKA). SMEcustomers of Deutsche Leasing andthe savings banks used this servicefor export finance projects involving avolume of investment of between Euro1m and 10m.Deutsche Leasing made furtherprogress in its expansion of its onlineand digital offerings, in concert withthe savings banks, for its business andcommercial customers segment. ItsS-Gewerbekredit product, for financingof smaller plant and equipmentexpenditures, is meeting with a strongmarket response and yielding furthergrowth opportunities.With the founding of vent.ioGmbH, the digital innovation unitwhich was established three yearsago will now be hived off as asubsidiary and expanded. As aninnovation partner of the DeutscheLeasing Group, it aims to pursuethe ongoing development of newbusiness models and fields such asdata science, software engineering,artificial intelligence and digitalcustomer and partner interfaces.Sustainability is an increasinglyimportant issue for Deutsche Leasing.The company was one of the firstcompanies to sign SparkassenFinanzgruppe’s “Commitment toClimate-Friendly and SustainableBusiness Activities” in December2020 and intends to play its partin shaping and implementing therelated objectives over the nextfew years.The Deutsche Leasing Group is theleading solutions-oriented assetfinance partner for German small andmedium-sized enterprises and offersa broad range of investment-relatedfinancing solutions (asset finance) aswell as supplementary services.7
wlr world leasing reviewEurope is better prepared forthe electric vehicle revolutionThe Netherlands, Norway and theUnited Kingdom continue to be thebest prepared countries in Europefor the electric vehicle revolution, andoverall Europe is more ready than everfor the EV revolution.Charging infrastructure, however,continues to be a major roadblockpreventing EV adoption across thecontinent, with the rate of chargingpole installation falling in 2020.These are the conclusions ofLeasePlan’s 2021 EV ReadinessIndex, a comprehensive analysis ofthe preparedness of 22 Europeancountries for the electric vehiclerevolution.The Index is based on three factors:EV registrations, the maturity ofEV infrastructure, and governmentincentives in each country. Key findingsfor 2020 include: Almost all countries show animproved score compared to 2019,signalling increased EV readinessacross the continent. The rate ofimprovement, however, variessignificantly across Europe, withRomania, Slovakia and the CzechRepublic having both the lowestscores and the slowest improvementrate, underlining the continueddisparity between Western andEastern Europe in terms of EVreadiness EVs have never been moreaffordable. In 11 countries, EVsare already cheaper than theirICE counterparts on a TCO basis.In addition, EV drivers pay onaverage only 63% of the tax that8ICE drivers pay. Austria, Greece,Hungary, Ireland, Poland and theUK are leading the charge: in thesecountries, EV drivers pay no drivertax at all. Charging infrastructure is stilllagging and will be key to improvingEV readiness going forward.Although some progress was madein 2020 on charging infrastructure,the rate of improvement actuallydropped compared to 2019 (43%increase rate in 2020 comparedto 73% increase in 2019). Even intop-ranked countries, charginginfrastructure remains far fromadequateThe EV Readiness Index 202120212020
wlr world leasing reviewinfrastructure before it’s too late, theclimate emergency can’t wait.”LeasePlan has committed itself toachieving net zero emissions from itstotal fleet by 2030. LeasePlan is also afounding partner of The Climate Group’sEV100 initiative, a global businessinitiative designed to fast-track theuptake of EVs and infrastructure amongthe world’s leading corporations.Europe is failing to deliver the infrastructure required for the clean mobility revolution.Tex Gunning, CEO of LeasePlan,said, “Our EV Readiness Index showsthat while electric driving is moreaffordable than ever across Europe,public charging infrastructure is stillwoefully lacking. In opinion pollingdone earlier this year, we already sawthat lack of charging infrastructurewas a major roadblock stoppingdrivers from going electric – and theanalysis in our EV Readiness Indexproves these fears are well founded”.“To put it bluntly”, said Gunning,“the pace of improvement just isn’tfast enough, and Europe is failing todeliver the infrastructure required forthe clean mobility revolution. Leadersand policymakers in every single oneof the 22 countries in this Index needto step up and invest in a universal,affordable and sustainable chargingLeasePlan is a leader in two large andgrowing markets: Car-as-a-Servicefor new cars, through its LeasePlanbusiness, and the high-quality three-tofour year old used car market, throughits CarNext.com business.CarNext.com is a pan-Europeandigital marketplace for high-qualityused cars delivering any car, anytime,anywhere and is supplied with vehiclesfrom LeasePlan’s own fleet as well asthird-party partners. LeasePlan hasmore than 1.9 million vehicles undermanagement in over 30 countries.Q2 acquiresClickswitchQ2 Holdings, Inc, the leading providerof digital transformation solutions forbanking and lending, has announced itsacquisition of Clickswitch.Clickswitch is a patented digital accountswitching software-as-a-service (SaaS)solution. The acquisition reflects Q2’songoing mission to build strong anddiverse communities by strengtheningfinancial institutions.Clickswitch, a privately held companybased in Minneapolis, MN, wasfounded in 2014 to provide a digitalaccount switching solution for financialinstitutions and fintechs.“A major challenge that financialinstitutions and fintechs face isconverting their clients to becomeprimary account holders. We believeQ2’s acquisition of Clickswitch willenable us to help our customersefficiently solve this pain point and driveaccount profitability,” said Matt Flake,CEO of Q2.“We also believe that with Clickswitchwe can help our customers providetheir account holders with a morestreamlined, frictionless experience, byoffering an end-to-end digital customeracquisition, onboarding, and accountswitching solution”, said Flake.Clickswitch has successfully helpedmore than 450 financial institutionsand fintechs acquire the primaryrelationships with their account holders."Q2 is a recognised leader in providinginnovative solutions for financialinstitutions and other fintech providers,”said Cale Johnston, founder and CEO,Clickswitch. “As a combined force, welook forward to solving a fundamentalissue that banks, credit unions andfintech companies face – managing thecomplexity and administrative burdenof account switching – by providing themost comprehensive digital accountswitching solution in the market.”9
wlr world leasing reviewSusan Foster joins LTias VP of Marketingof Marketing at PNC EquipmentFinance working with clients such asMicrosoft, Philips Medical, and HarrisBroadcast. In addition, she has workedin consulting roles with large corporateclients, such as Kroger.“I am honored to be joining LTi as weenter this new era of leadership indigital transformation,” said Foster,“We are poised for exceptional growthin 2021 with a strong brand, leadingindustry product innovation, and aprogressive tech-forward reputation.”Susan Foster, VP of Marketing of LTi.LTi Technology Solutions (LTi), hasannounced that Susan Foster, hasjoined the company as Vice Presidentof Marketing.Susan has over 19 years of marketingexperience in the equipment financeindustry. Reporting directly to LTi’sSenior Vice President and ChiefRevenue Officer, Bryan Hunt, Susanwill lead the development andimplementation of the company’soverall marketing plans and strategiesto support its objectives.In her new position, Susan will bestreamlining LTi’s marketing strategyand will be responsible for thestrategic, operational, and financialaspects of LTi’s marketing organisation.A particular area of focus will becommunicating the business value ofLTi’s ASPIRE platform as well as leadingthe marketing efforts of the company’sbroader customer experience.Susan has served as Vice President10In another move at LTi, Kirsten Dargyhas been promoted to MarketingManager. She will be moving from herrole as Marketing Team Lead. Kirstenwill be responsible for leading allmarketing and communication effortsacross LTi and cultivating innovativestrategies to grow LTi’s businessand brand.As Marketing Manager for LTi, Kirstenwill be responsible for translatingthe company’s business objectivesinto marketing strategies that driverevenue. In addition, she will identifyand track key metrics and managethe overall marketing activities for theMarketing Department. Kirsten willplay an instrumental role in revitalisingclient communications and executingmarketing campaigns aimed at newgrowth.LTi Technology Solutions delivers afull lifecycle leasing and loan financeplatform to equipment financecompanies, captives, small ticket,middle market, and independent banksthroughout the US, UK, and Canadafrom the Omaha, NE, US, headquarters.Otoz launchesauto platformNETSOL Technologies, Inc, theglobal business services andenterprise application solutionsprovider, has announced anexpansion of its product offering toinclude digital retailing solutions forcar dealerships.Powered by NETSOL’s subsidiaryOtoz, the new platform enablesautomotive companies to provideconsumers with a complete, end-toend digital shopping experience.When the Otoz platform is launched,both customers and dealers will haveaccess to personalized portals viastate-of-the-art apps, enabling anend-to-end experience. To furtherfacilitate customer and dealerengage
Confidence in the US equipment leasing & finance market reached 67.7 in March 2021, an increase from the February index of 64.4, and the highest level since April 2018. These are the finding from the Equipment Leasing & Finance Foundation according to its March 2021 Monthly Confidence Index for the US Equipment Finance Industry.
